Based on reported figures and our proprietary estimates, we estimate total U.S. & Canada Gaming Revenue increased +7% y/y and +0% q/q to $31.3 billion in 4Q22, another record period. Compared with 4Q19, gaming revenue increased +30% versus +28% in the prior quarter. See the Commercial Slot Revenue slide for more commentary, but results were driven by still strong macro-economic tailwinds and expanded gambling offerings (sports betting, iGaming, Route Ops growth).